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Morgan Stanley Profit Tops Wall Street Expectations Amid 'Mixed' Market Environment

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Third-quarter profit at the investment bank slides 8% to $2.4 billion.

Morgan Stanley ‘s third-quarter earnings topped Wall Street expectations even as the bank navigated challenging macroeconomic conditions.

Big banks’ earnings season comes to a close Wednesday morning, with Morgan Stanley reporting its third-quarter numbers. But with the results already in from five other large lenders, few expect big surprises. “I would say we are more confident now than any time this year about an improved outlook for 2024,” Daniel Simkowitz, head of investment management at Morgan Stanley, said at the Barclays Global Financial Services Conference last month, saying he saw signs of a “sustainable recovery.”

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